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Florida Institute Funds Gainesville-based RAPiD Genomics

GAINESVILLE, Fla. and BOCA RATON, Fla., Dec. 17, 2015 /PRNewswire-USNewswire/ --The Florida Institute for the Commercialization of Public Research (the Institute) announced today that it has finalized a funding agreement with RAPiD Genomics a Gainesville-based company with technology licensed from the University of Florida. The Institute supports new company creation based on publicly-funded research, and bridges early funding gaps for companies spinning out of Florida-based universities and research institutions.

RAPiD Genomics offers DNA genotyping and data analysis solutions for applications in the agriculture, forestry and livestock industries. DNA genotyping gives researchers and farmers the ability to predict the value of a plant or animal before the seed germinate or the animal is born, allowing researchers and companies to quickly breed and grow ideal crops and livestock.

"We have developed an efficient procedure to accelerate genotyping using next-generation sequencing," said Marcio Resend, M.Sc, Ph.D., RAPiD Genomics Co-founder and Interim Chief Executive Officer. "The technologies we developed permit the analysis of thousands of samples at a lower cost than existing technologies. Our system also requires less DNA and eliminates the need for proprietary equipment."

"RAPiD Genomics is creating low-cost, large scale high-throughput genotyping platforms for any species and any number of samples," said Jamie Grooms, Institute Chief Executive Officer. "Their technology can be applied in all areas- from viruses and bacteria, to plants and animals, and we are pleased to support their continued success."

About the Institute

Formed by the Florida Legislature in 2007, the Florida Institute for the Commercialization of Public Research is a non-profit organization that works collaboratively with the technology licensing and commercialization offices of Florida's state universities and private research institutions to leverage a $2B+ research base and form investable companies that create clean jobs in new industries that are driving the global economy. Over 100 new company projects have been identified across the state, and the Institute deploys company building and funding programs to promising Florida startups. Forty-eight companies have been funded since the program's inception.

About RAPiD Genomics

RAPiD Genomics develops and delivers innovative genomic applications to agribusinesses. The agricultural, forestry and livestock industries have been increasingly adopting genomic technologies to develop genetically improved germplasm for bioenergy, food and fiber production. RAPiD Genomics enables the application of these technologies by delivering genotyping and data analysis with numerous advantages over competing technologies.